Blue Star Helium (ASX:BNL) receives permit to drill in Colorado – The Market Herald

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  • Helium exploration and production company Blue Star Helium (BNL) has received a permit to drill at its Enterprise 16#1 helium exploration well in Las Animas County in Colorado
  • This is the first approved permit to drill for a helium well in Colorado and the first application of any type in the County since new rules came in place in January
  • Drilling at the well is expected to commence next year, depending on the weather
  • Blue Star has selected its preferred rig for the drilling program
  • On the market, Blue Star is up 4 per cent and is trading at 5.2 cents per share

Blue Star Helium (BNL) has received a permit to drill at its Enterprise 16#1 helium exploration well in Las Animas County, Colorado.

This is the first approved permit to drill for a helium well in Colorado and the first application of any type in Las Animas County since changes to the state permitting landscape were enacted in January 2021.

Drilling at the well is expected to commence in the new year, depending on the weather in the county.

Blue Star has also selected its preferred rig for the drilling program.

Helium is a unique industrial gas that exhibits characteristics both of a bulk, commodity gas, and of a high value specialty gas and is considered a high-tech strategic element.

The gas is a vital element in the manufacture of magnetic resonance imaging and semiconductors and is critical for fibre optic cable manufacturing, hard disc manufacturing and cooling, space exploration, rocketry, lifting and high-level science.

On Wednesday, Blue Star agreed to work with two US companies on joint development of leases its holds in Colorado.

The leases includes Blue Star’s Serenity prospect, which is located to the south-east of its Galactica and Pegasus prospects.

On the market, Blue Star was up 4 per cent and is trading at 5.2 cents per share at 1:32 pm AEDT.

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